Swiss Market Ends Marginally Up After Lackluster Session

(RTTNews) - Swiss stocks ended slightly up on Monday after a lackluster session as investors refrained from making significant moves amid a lack of triggers.

Investors digested data showing a slight drop in Swiss consumer confidence in the month of April.

The benchmark SMI, which moved between 11,729.47 and 11,772.82, ended with a small gain of 14.38 points or 0.12% at 11,768.08.

Logitech International, ABB, Givaudan, Roche Holdings, Lindt Spruengli, Alcon and Swisscom gained 1 to 1.5%.

Straumann Holding advanced nearly 1%. Novartis climbed 0.82% and UBS Group ended higher by 0.63%.

Holcim ended more than 4% down. Lonza Group, VAT Group and Swatch Group ended lower by 1.8 to 1.9%. Partners Group dropped 1.59%, while Swiss Re, SGS, Sonova, Julius Baer, Sandoz Group and SIG Group lost 0.7 to 1.2%.

Survey results from the State Secretariat for Economic Affairs, or SECO, showed Swiss consumer confidence was almost unchanged in April.

The consumer confidence index stood at -38.1 in April versus March's 8-month high of -38.0. Further, the consumer sentiment index remained below the long-term average.

Among the main four sub-components, consumers' expectations of how the general economic situation would develop over the next twelve months improved in April, with the corresponding index rising to -21.2 from -24.3.

Similarly, the index measuring intentions for major purchases rose to -37.2 from -40.0.

Meanwhile, households were more pessimistic about their own financial situation, which weakened to -36.2 from -33.0. The past financial situation of the general economy also worsened from -53.4 to -57.6.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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